3. Which of the following policy positions would a monetarist support? a. Fiscal policy cannot effectively fight
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3. Which of the following policy positions would a monetarist support?
a. Fiscal policy cannot effectively fight a recession.
b. Short-run changes in aggregate demand do not affect aggregate output.
c. Short-run changes in aggregate demand do not affect prices.
d. Steady growth in the money supply will ensure steady growth in spending and GDP.
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